If you’re starting to develop your recruiting strategy for 2023, here are 10 stats* you may want to keep in the back of your mind.
1. Only 15% of agents are below the age of 40 (most are between 40 and 60 years old).
2. Median agent sales volume is $1.8M. Median number of transactions is 10/year.
3. Only 31% of agents have sales volume above $5M.
4. Only 15% of agents get repeat business from previous customers (the rest depend on new leads).
5. Only 15% of agents are paid via 100% commission plans (74% are on some kind of split commission plan).
6. Most agents report spending between $2.5K and $5K on their businesses per year.
7. Most agents spend less than $1K/year in each of the following categories: marketing, self-development, and technology.
8. Most agents make less than $60K/year in personal income.
9. Over 40% of agents work in single office companies.
10. Over 20% of agents are on teams, and the median tenure of an agent on a team is two years.
This type of data helps inform you on who you should be pursuing, what you should be offering, and how to handle objections during negotiations.
The best recruiters and hiring managers are well-informed. They usually know the answers to questions before they’re asked.
*Source: NAR 2022 Member Profile
